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Reuters reports that US inflation is easing and the Fed appears to be nearing a victory over the price surge that produced 40-year-high inflation. The Fed's policy rate sits in a 4.25%-4.50% range, and futures markets point to a terminal rate near 4.90% by mid-year before any easing.
Expectations of a near-peak US rate path weaken the dollar's outlook, which tends to support dollar-priced commodities over time. The effect on feed grain and meal prices is indirect and modest.
reuters.comJamie McGeeverJan 13, 2023After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
